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of <h1>Central Government Approves Upper Krishna Project Under Section 10(23G) for Assessment Years 2002-2005, Subject to Compliance</h1> The Central Government has approved the Upper Krishna Project of Krishna Bhagya Jala Nigam Ltd., Bangalore, under section 10(23G) of the Income-tax Act, 1961, for the assessment years 2002-2003, 2003-2004, and 2004-2005. This approval is contingent upon the enterprise complying with the provisions of section 10(23G) and rule 2E of the Income-tax Rules, 1962. The approval may be withdrawn if the enterprise ceases infrastructure operations, fails to maintain audited accounts, or does not furnish the required audit report. The project is tasked with executing the Upper Krishna Irrigation Project.
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